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 Why
do employees join an organization?
Pay, location,
benefits, advancement possibilities, job security, nature of work,
personal/family time.
Why do employees stay?
Confidence
Factor - Belief in potential success and leadership
strategies
Emotional Factor Personal Contribution, Recognition,
Appreciation
Trust Factor Promises and commitments are kept
Cultural Factor- Values and ethics are in line with their
own belief system
Listening Factor - People are heard and their
contributions valued
Retention
Strategies are now recognized as mandatory in many industries:
Leadership "Best Practices". Executive and Senior Management support
is critical for hiring, managing, recognizing, communicating,
rewarding and making employees feel significant.
Retention Factors:
-
Compensation
& Benefits (Money is not always the primary driver).
-
Clear
business goals (where do they fit in).
-
Clearly
defined jobs.
-
Rewards &
recognition programs.
-
Open
communication channels.
-
Effective
managers and leaders.
-
A creative culture that
supports risk taking
and freedom, and new innovative
ideas.
-
Being
supportive and enforcing accountability.
-
Culture is
based on a values system, what is acceptable (and what is not.)
Inspiring
employees to stay and exceed:
-
Capture the
hearts of your workforce with a compelling vision, a balance of
hard work and celebrations.
-
Multiple
communication channels, internal listening is a priority.
-
Create
partnerships, no status barriers.
-
Be open and
honest.
-
Pay for
performance (not titles).
-
Share the
"bad" times the "good" times.
-
Drive
Learning, encourage life long learning.
-
Trust your
employees to develop their skills personally and professionally.
-
Encourage out
of the box thinking, freedom to fail, reduce bureaucracy, and
challenge the "status quo."
-
Breathe life into
the organization, dont let your employees get complacent.
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